Shares of Arconic (NYSE: ARNC) skyrocketed this week and were trading 26.4% higher as of 11:30 a.m. Friday, according to data provided by S&P Global Market Intelligence.

Arconic produces aluminum products for various industries, including aerospace, automotive, defense, construction, and commercial transportation. Rumor is that a private equity firm is looking to acquire the company now.

Private equity firm Apollo Global Management reportedly submitted an offer to acquire Arconic in February, according to a report from The Wall Street Journal this week. The report further stated Arconic's advisors have approached other potential acquirers as well.

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Source Fool.com